Yihaodian is an online grocery store, allowing Chinese consumers to order their groceries and have these delivered to their home, making it easier than ever to get what the person wants. The stores was founded by Gang Yu and Junling Liu in July of 2008. Interestingly, this site has become very popular as Walmart has invested into this company to have a 51% share of the company.
Yihaodian offers groceries and goods ranging from cookies to cell phones. They operate on a B2C market, offering the lowest prices that are possible to their consumers.
Many professionals believe that more consumers are going to look to Yihaodian for their grocery needs, making smaller stores that may be around the corner from their home, obsolete. Consumers do rank Yihaodian as one of the top 10 grocers to do business with, but according to Kantar Retail, Yihaodian came in 10th place.
In 2013, Yihaodian reported a revenue of $1.9 billion. This figure was up from 2012 by around 70%. According to Dave Cheesewright the CEO and president of Walmart International, for 2014, Yihaodian had a sales increase of over 50% compared to the last year.
The Future of Yihaodian
Though many people are committed to getting the full grocery shopping experience by going to a brick and mortar store, there are tons of people who find shopping online to be the better option. In fact, so many people are doing this that Yihaodian has the potential to dominate this market of online shopping in the future.